University of Trento - Department of Economics and Management; Università della Svizzera italiana

Date Written: July 19, 2017

Abstract

In this paper, I argue that, if the role of specific investments in transforming market configuration is seriously taken into account, then specific investments can be a safeguard from, rather than the cause of, opportunistic behaviours, and that residual control rights can reduce, rather than increase, incentives to invest.

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